Chromium Market Update (March 8, 2012)

By Karan Kumar – Exclusive to Chromium Investing News

According to data from Metal-Pages, chromium JCr 99-A traded between 82,000 ($12,980) to 84,000 ($13,295) yuan during February of this year, higher than a range of 76,000 to 83,000 yuan per metric ton it during the comparable period in 2011. However, the benchmark price for South African charge chrome delivered in Europe during the first quarter of 2012 was agreed at $115 a pound, down about $5 a year from the preceding quarter, Steelguru reported.

The lower prices for South African chrome reflect the impact of severe competition from China. In fact, South African chrome producers want the government to impose an export tax of $100 a ton on chrome ore, Stuart Elliot, the chief executive of Merafe Resources, said recently.